Dr. Tunde Afolabi, the Ajayi Crowther University Chancellor has gifted a sum of N1bn to establish the university’s N5bn development fund.
The institution of the fund was part of the activities for the grand finale of the varsity’s ACU’s 15th convocation ceremony. About 30 persons were awarded the Doctor of Philosophy certificates in diverse disciplines.
There had been a conferment of honorary doctorate degrees on Dr Taiwo Afolabi; Sir Gbolahan Folayan, the Chairman of Sifax Group; and Mrs Kate Isa during the ceremony.
While making his support for the fundraiser known, the chancellor remarked that the principle problem of education in Nigeria was poor funding.
According to him, renowned universities like Harvard University had established funds that results in billions of dollars.
Dr. Afolabi also revealed that the ACU development reserves would be completed within five years.
The Pro-Chancellor and Chairman of the university’s Governing Council, Dr. Olutoyin Okeowo, revealed the plans of the school for the nearest future.
He divulged this information earlier in his speech, describing the expectations of the school as graceful, lofty and achievable.
However, he noted that there was a catch as the plans could only be achieved with sufficient, strong and sustainable funding.
Not to be left behind, one of the awardees, Afolabi, donated N20m, and the husband of Kate Isa, donated the sum of N50m.
These figures are no small donations and it is a commendable thing that the Chancellor of the Institution has done.
Of course the aim is to develop the varsity and champion it as a world class varsity that can compete with other institutions across the globe.
